Silicon Valley Acquisition Corp.

Silicon Valley Acquisition Corp. (SVAQ) has entered into a securities purchase agreement to issue up to $5 million in subordinated unsecured promissory notes and warrants to a special purpose investment vehicle ahead of its merger with EigenQ. EigenQ has issued an initial note with a principal amount of $2,413,333.33, which will be exchanged for convertible notes of the post-merger entity (PubCo). This financing is strictly subordinated to existing senior secured notes, with significant restrictions on payments and enforcement actions until the merger is completed.…more

Silicon Valley Acquisition Corp.

Silicon Valley Acquisition Corp. (SVAQ) has entered into a securities purchase agreement to issue up to $5 million in subordinated unsecured promissory notes and warrants to an institutional investor ahead of its business combination with EigenQ. Under the agreement, an initial note of $2,413,333.33 was issued, and upon the closing of the business combination, these securities will be exchanged for convertible notes and warrants of the successor public company (PubCo).…more